Category: Other
Sri Lanka Royal Ceramic sells commodity broker
Mar 07, 2013 (LBO) – Sri Lanka’s Royal Ceramics Plc, a tile and sanitary ware group said it sold 12.75 percent of its 51 percent stake in Asia Siyake Commodities Plc, a tea broker, to Lanka Commodity Brokers Ltd.The first tranche would be sold after March 04 and the second tranche after June 11.The firm […]
‘s Mannar district aquaculture boosted by Japan
Mar 07, 2013 (LBO) – Japan will provide 8.2 million rupees to build a hatchery to produce fingerlings in Sri Lanka’s former war torn North Eastern district of Mannar, the Japanese embassy said.Japan will give 65,735 dollars as grant aid to Sri Lanka’s state-run National Aquaculture Development Authority of Sri Lanka (NAQDA) to build a […]
Sri Lanka could cut carbon emissions 19-pct with green moves: ADB study
Mar 06, 2013 (LBO) – Sri Lanka could cut green house gas emissions by 19 percent by 2020 by increasing energy efficiencies and by using green power technologies, an Asian Development Bank study has said. Sri Lanka offers high tariffs for municipal waste energy but no firm project has so far come forward, with industry […]
Sri Lanka Nestle unit net up 56-pct
Mar 02, 2013 (LBO) – Nestle Lanka Plc, a unit of a Swiss-based food group said profits rose 56 percent to 949 million rupees in the December 2012 quarter from a year earlier, and payments to local farmers topped 4.0 billion rupees. Total payments to dairy and coconut farmers topped 4.0 billion rupees. The firm […]
Sri Lanka poultry firms in the red on higher costs, weaker sales
Mar 01, 2013 (LBO) – Sri Lanka’s Ceylon Grain Elevators, which has interests in feed-milling, hatchery and poultry meat said it lost 229 million rupees in the December 2012 quarter on weak sales and higher costs.The group reported a loss of 2.82 rupees per share for the quarter, in accounts filed with the Colombo Stock […]
AirAsia to form India budget carrier with Tata
Feb 20, 2013 (LBO) – Malaysia’s AirAsia said has sought approval from authorities in India to form a joint venture budget carrier with Tata group and another investor, Arun Bhatia of Telestra Tradeplace. AirAsia pulled out of Colombo this year. “AirAsia is confident that it can replicate its unprecedented success across Malaysia, Thailand, Indonesia and […]
Sri Lanka Agstar Fertilizers buy rice processor
Feb 19, 2013 (LBO) – Sri Lanka’s Agstar Fertilizers Plc said it had bought control of a rice processing and distribution company for 41.7 million rupees. The firm said in a stock exchange filing that it had bought 51 percent of Mahaweli Rice Processing Industries (Pvt) Ltd, based in Sandunpura, Dehiattakandiya. In the December 2012 […]
Sri Lankan dairy firm to expand capacity, profits up
Feb 17, 2013 (LBO) – Lanka Milk Foods Plc a unit of Sri Lanka’s Distilleries group said it will spend 800 million rupees to expand liquid milk processing and packing capacity at a subsidiary.Lanka Milk Foods’ revenues rose 9.5 percent to 1.41 billion rupees in the December 2013 quarter, expenses rose at a slower 2.6 […]
Shooting
COLOMBO, Feb 16, 2013 (AFP) – Gunmen shot and wounded a Sri Lankan journalist near the capital Colombo, police said Saturday, the latest in a string of attacks on the island’s media.Faraz Shauketaly, a reporter with the privately-run Sunday Leader whose editor was shot dead in 2009, was rushed to hospital for surgery following the […]
Sri Lanka to tighten laws on refuse tea
Feb 08, 2013 (LBO) – Sri Lanka is tightening laws to control the refuse tea prevent malpractices, with draft rules being devised by the plantations industries ministry the state information office said. The proposed laws relating to refuse tea and several off grades had been referred to a cabinet sub-committee headed by minister Susil Premjayantha […]
Sri Lanka tea planters welcome reduction of sudden export tax
Feb 07, 2013 (LBO) – Sri Lanka Planters Association representing large tea growing companies welcome a reduction in a sudden hike in a tea export tax, which was sprung on the industry with no warning or consultation. Sri Lanka’s authorities have a habit of imposing taxes through gazette on citizens without consultation violating fundamental principles […]
‘s Bogawantalawa tea estate profits surge
Feb 06, 2013 (LBO) – Profits at Sri Lanka’s Bogawantalawa Tea Estates Plc, surged to 146 million rupees from a loss of 28 million rupees a year earlier, helped by stronger tea prices, interim accounts show. The firm reported earnings of 1.75 rupees per share during the quarter.In the nine months to December it reported […]